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How AI giants will reshape global philanthropy
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How AI giants will reshape global philanthropy

AxiosΒ·Bradley OlsonΒ·5 days ago
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#axios#anthropic#company#giving#fund
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The AI boom is about to rewrite the rules of global philanthropy, shifting its center of gravity to Silicon Valley, where the IPOs of AI giants Anthropic and OpenAI will create the world's largest charitable organizations.

Why it matters: Rather than massive donations earmarked for renaming hospital wings or university graduate programs, expect the new wave of giving to mirror startup culture: flexible capital, ambitious bets and a search for measurable impact.

Driving the news: Anthropic announced Sunday that it plans to launch a massive benefit fund with 5% of its shares.

Zoom in: The company's pledge β€” which would amount to $100 billion if it reaches a value of $2 trillion in its IPO β€” will go to a public benefit fund and is set to grow as its valuation rises.

Anthropic says the fund will be a wholly owned LLC, giving it flexibility to make large donations to nonprofits or distribute money directly to specific populations.

The commitment builds on the pledges of co-founders to give away 80% of their…

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